Boeing Advances
As CEO Is Picked,
But 3M Declines

Stocks dropped on concerns about more interest-rate increases, although MBNA and Boeing rose on news of their own.

The Dow Jones Industrial Average dropped 99.51, or 0.96%, to 10274.97. The Nasdaq Composite Index lost 11.93, or 0.58%, to 2056.96. The Standard & Poor's 500-stock index shed 8.52, or 0.71%, to 1191.33.